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Services confidence indicator in November 2020

Services confidence indicator in November 2020

Last update: 27.11.2020
Ilustratívny obrázok/Illustrative image
Publisher: Headquarters Bratislava
Topic: Macroeconomic statistics
Domain: Business tendency surveys and consumer opinions
Publish Date: 27.11.2020

 

In November, the seasonally adjusted confidence indicator in services decreased again, its value (-29) dropped by 17 percentage points (p.p.) compared with October. The indicator´s development was affected by more negative evaluations of all its three components.

Compared with the last month´s survey, the business situation over the past three months slightly deteriorated, the business balance (of seasonally adjusted data) decreased by 1 point and reached the level -33. A deterioration of the business situation is felt by 32 % enterprises (by 5 p.p. less than in the survey conducted in October), an improvement was reported by 6 % of respondents (by 7 p.p. less), while 62 % of enterpirses (by 12 p.p. more) had a stable development. A more negative development was indicated in all sectors, mostly though in arts, entertainment and recreation and in administration and support service activities; improvement of the situation was recorded in transportation and storage and  in the field of information and communication. Compared with the last month´s survey, the demand for the services over the past three months (-33) decreased by 33 points. The decrease of the demand was recorded in all sectors, most considerably in the field of arts, entertainment and recreation, information and communication, as well as in financial and insurance activities. Even the expected development of the demand for services over the next three months was also evaluated more negatively by respondents, the seasonally adjusted business balance (-21) decreased by 17 points. A lower demand is expected mainly in arts, entertainment and recreation, in financial and insurance activities, in real estates; on the contrary, an increased interest in their own services is assumed in accommodation and food service activities. 31 % of enterprises decreased the number of their employees over the past three months (by 2 p.p. more than in October), 8 % of enterprises (by 3 p.p. less) reported an increase and 61 % of enterprises had a stable development (by 1 p.p. more). The final seasonally adjusted balance (-25) decreased by 6 p.p. compared with the previous month, indicating a deterioration of the employment situation. The number of employees decreased the most in administrative and support service activities, in arts, entertainment and recreation, as well as in accommodation and food service activities; a higher number of employees were registered in financial and insurance activities and in transportation and storage. In the development of the employment over the next three months, a slight improvement of the situation is expected, the business balance (-27) increased by 2 points, compared with the previous month. A higher number of employees is assumed mainly in accommodation and food services, in financial and insurance activities as well as in other activities; a lower number of employees is considered mainly in administration and support service activities and also in arts, entertainment and recreation. Compared with the previous period, the business balance of the expected prices of services over the next three months (-5) decreased by 25 points while a decrease of prices is considered by 3 % of enterprises (similarly as in October), 4 % of enterprises (by 18 p.p. less) expect an increase and 93 % of enterprises (by 18 p.p.more) assume a stable development.


Note: *In November 399 respondents were participated in survey which represents the whole service sector.
The values of the confidence indicator in services and the balances range from -100 (responses of all respondents are pessimistic) to 100 (responses of all respondents are optimistic). Confidence indicator and balances on republic level are seasonally adjusted.

 

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